Clover Network wins 5th Parachain auction on Polkadot

Reportedly, Polkadot announced the schedule for the first two Parachain auctions, which have been running since November and have completed four rounds. And today, Clover Network is the next name to win the Parachain auction on Polkadot.

Clover Network wins 5th Parachain auction on Polkadot

“Congratulations to Clover Finance on winning the fifth Polkadot auction! Klee is introduced in block 8179200 [ngày 18 tháng 12]. More than 5.4 thousand actors in the network have supported DOT! “

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Clover Network wins the auction on Polkadot as the third participant

In the recent announcement on Polkadot’s Twitter, the platform said that Clover Network (CLV) will be the next name to win the race for the Parachain auction.

Clover Finance is a smart contract platform that is highly compatible with EVM and was founded in 2020 as Parachain by Polkadot based on the modular framework framework. It can be viewed as an infrastructure platform geared towards cross-chain compatibility and allowing developers to connect DeFi-dApps between Ethereum and Polkadot. Clover advertises itself as the basis for cross-chain compatibility.

According to DotMarketCap, a total of more than 11,700 people took part in the support and secured the amount of 9.8 million DOT – worth approximately $ 267 million. These two parameters have decreased compared to previous auctions, which shows that the heat of the auctions has not stayed the same as before.


Statistics of the first three projects to win the Polkadot Parachain auction and other competing projects | The source: DotMarketCap

Most of all how Bitcoin magazine mentioned, the winning order of the first three Polkadot Parachain auctions was exactly the same as the winning order of the Kusama auction – Polkadot’s experimental blockchain. Accordingly, the first three projects to win the auction on Kusama were Karuka> Moonriver> Shinden Network, the first three projects to win the auction on Polkadot were Acala> Moonbeam> Astar – their “mapped” versions.

Polkadot as the blockchain of many blockchains. This project will help users to easily build their own blockchain on the Polkadot system. Polkadot calls these parallel blockchains “parachains” and parachains can connect to the main network via slots – parachain slots. The winning projects of the Parachain auction are given the right to “rent” this position for approximately 2 years before Polkadot conducts the auction again.

Clover network

At the time of going to press, the CLV price is up 18% and is trading at $ 0.88.

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